Impact of Trade Deals on UK and International Economies

Global Economy

Contents
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................1
REFERENCES................................................................................................................................1

INTRODUCTION
Global economy is termed to economic interdependence formed among most of influential
nations which drives worldwide economic environment (Johnes, 2019). It is aggregation of
economic outputs, influences along with movement of all countries. It helps nations to specialise
in offerings among nations and helped countries to achieve competitive advantage in. it provides
linkage among regions along with nations of the globe in system of economic relationships. This
type of relationship comprises exchange of products, exchange variant nation’s currencies,
financial flows across borders together with movement of human capital in search for better
living standards. Economy of a nation, for example, UK is a highly developed market oriented
economy.
The report highlights trade patterns in UK and overview of trade of UK with rest of globe. It
further includes discussion of some trade deals that are signed by UK with rest of world and their
impacts on trade. It further evaluates effects which trade deals have on economy of UK and
International world.
MAIN BODY
Analysis of trade patterns of UK and overview of UK trade with rest of world
Trade is exchange of commodities and services among countries. Trade pattern is said to
long range direction of security or product future prices, charted through drawing one line which
connects highest price security has reached as well as another line which connects lower prices
wherein security has traded over similar time period (Pollard, 2021). In UK, trade patterns
evolve over time as the country develops as well as build new comparative benefits in goods and
services.
Figure 1: UK trade in Goods and Services by Area. 2021
(Source: UK trade in Goods and Services by Area. 2021)
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